Claire's Stores Planning

Joint Venture Into Japan

The Pembroke Pines-based company said on Thursday that it has joined with a Japanese retailer on a plan to open 500 Claire's Boutique stores in Japan during the next five to 10 years. The first is expected to open in November.

The venture is with Jusco Co. Ltd., a $17.5 billion firm that develops malls and operates combination supermarket and department stores in Japan.

Its parent is AEON Group, which owns parts of 158 companies worldwide, including a familiar name in U.S. malls, Talbots women's clothing store.

``Claire's target customer is young people, and the Japanese young woman is quite interested in attire and well-matched accessories,'' said Masaharu Isogai, executive vice president and general manager at Jusco USA.

A few years ago, many Japanese consumers were highly brand-conscious and willing to spend to impress. But as the country's economy soured, it has become fashionable to shop for bargains, and discounters, including Toys ``R'' Us, have thrived.

This would be Claire's first venture outside North America, said spokesman Glenn Canary. It is currently in Canada and the U.S. Virgin Islands, and it has 1,119 stores in the United States and plans to build 130 stores during 1994. It grossed $281 million in its most recent fiscal year.

Claire's stock closed unchanged at 10 1/8 on Thursday.

Canary said Jusco approached Claire's Chairman Rowland Schaefer about two years ago. Claire's is very excited about the venture, and it thinks it could be a springboard for opening more stores in the Far East, he said.

In an unrelated matter, Claire's reported weak sales in June. Although total sales were up 4 percent, to $24.2 million, sales at stores open more than a year dropped 3 percent over last June.